Health insurance terms you should know before choosing your coverage

Choosing health insurance is never easy, but understanding some terminology you might encounter can make it easier to understand. The choice you make determines the coverage you will have for the next 12 months. A wrong choice could be difficult to live with. At Green Family Insurance Inc. in Illinois, we are an independently owned insurance agency. Our passion is helping our customers to find the insurance products they need.  

Here are a few of the health terms you should understand:

  • Deductible– The deductible is the amount you will need to pay every year before your health care starts to pay for services. High deductible health insurance policies are more affordable than lower deductible policies, but they can leave you with very little coverage for routine services. 
  • HSA– An HSA is a health saving account. This allows you to save an amount each year, determined by the IRS, tax-free toward your health care expenses. It is the perfect complement to a high deductible health insurance policy. 
  • Copay– A copay is your portion of any covered service. Once the deductible is met, and the health insurance starts covering services. 
  • Out-of-pocket limit- This is the most you will pay for health care services in any given year. This is an important figure, especially if you have a catastrophic illness that requires an extended stay in the hospital. Just a few days with tests can run you many thousands of dollars. 
  • Network– The network is a group of health care providers who have contracted with a health insurance plan to provide services to its members at an agreed-upon price. Most healthcare plans have their own network. Making sure the one you choose includes your doctor is an important part of choosing your health insurance plan. 

Contact Green Family Insurance Inc. in Illinois with your health insurance questions. 

A Look At Misconceptions About The Benefits Of Health Insurance

 Green Family Insurance Inc. assists people throughout Illinois by offering different types of insurance coverage. We strive to ensure that our clients find the insurance coverage they need.

Health Insurance

Health insurance allows you to enjoy a better quality of living. Health insurance covers your regularly scheduled trips to the doctor, as well as any medication that you have to take.  As you research different health policies, avoid some of these common misconceptions about health insurance.

Common Misconceptions

Health Insurance Isn’t Necessary If You’re Young

No matter what your age is, health insurance is an asset. If you’re young, health insurance helps cover you as you start to age. Your yearly check-up with your doctor works as a preventative measure to spot potential areas of concern before they become more serious.

Health Insurance Won’t Cover Me If I Smoke Or Drink Regularly

This is incorrect. Even if you smoke and drink regularly, you can still receive coverage.

I Can Rely On The Coverage Provided Through My Employer

While many employers provide health insurance, it is not a good idea to simply rely on your employer to provide coverage. It is much more beneficial to have your own policy as well to ensure that you are fully covered.

Your Policy Covers You No Matter Where You Are

As you research different policies, make sure that you find out whether your preferred physician is included in the network. In some cases, you may be able to visit a doctor outside of your network. Make sure that this subject is clearly defined in your policy before accepting it.

Green Family Insurance Inc. Can Help You

As an independent insurance agency, we are able to provide coverage to our clients in Illinois regardless of their needs. Stop by our office today.